Marriott Vacations slips after BofA slashes PT

Marriott Vacations Worldwide

17/11/2023 17:18

** Shares of holiday firm Marriott Vacations Worldwide
 VAC.N  down 2.5% after BofA slashes PT to $65 from $125
    ** BofA says co disappoints in Q3 and faces pressure across
business segments 
    ** Mgmt faces cost pressures like financing at higher
interest rates, higher maintenance fees and resort management
costs - BofA
    ** Co also faces disadvantage of lower credit quality of
acquired firm Sheraton and Vistana - BofA
    ** With low visibility and credibility, and free cash flow 
peaked, these segments could remain under pressure - BofA
    ** Out of six brokerages covering the stock, four have "buy"
rating and two "hold" - LSEG 
   ** Stock is down 41% YTD

 (Rerorting by Pranav Kashyap)